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On January 9, 2021, China’s Ministry of Commerce (“ MOFCOM”) issued its first order of the year, the Rules on Counteracting Unjustified Extra-Territorial Application of Foreign Legislation and Other Measures (the “ Rules”), which are immediately effective as of the date of promulgation. These Rules are aimed to counteract the effects of US secondary sanctions, and parallels are inevitably being made with the EU's Blocking Statute 1. This article will point out the five aspects to know about the Rules. I. What will be counteracted under the Rules? The Rules aim to block the unjustifi...

An ambitious plan to enhance the geopolitical strength of the EU? On 19 January 2021, the European Commission presented its new strategy to foster the “openness, strength and resilience” of the EU’s economic and financial systems into the future (the Strategy). Two of the most important issues underpinning the Strategy are the former Trump administration’s extensive use of secondary sanctions to influence the conduct of non-U.S. persons and the EU’s desire to promote its green finance agenda. In that light, the Strategy has three complimentary pillars: first, it aims to promote a st...

In response to a U.S. government consensus that trade with China involves grave national security risks, the Trump Administration promulgated a broad series of China-directed export controls, economic sanctions and import rules. The flow of trade measures became a torrent in the Trump Administration’s final months. This alert briefly surveys key new trade controls from late in the Trump Administration and Chinese policy responses that the Biden Administration inherits. It is not clear that the Biden Administration will prioritize a more regularized trading relationship with China. As it mov...

To embed, copy and paste the code into your website or blog: On January 19, the European Commission released a strategy intended to “stimulate the openness, strength and resilience of the EU’s economic and financial system.” One of the key pillars of the strategy is centered around strengthening the implementation and enforcement of EU sanctions. The strategy highlights current weaknesses in the EU sanctions regime, including the lack of uniformity in application and enforcement between Member States. It is thought that these inconsistencies create uncertainty and assist in sanctions ev...

2 months old This article is more than 2 months old Stephen Greenhalgh said executives should not ‘hide behind’ rarely used French law Grenfell survivors and their supporters at a protest in London last month, calling for the French government to intervene. Photograph: Guy Smallman/Getty Images Grenfell survivors and their supporters at a protest in London last month, calling for the French government to intervene. Photograph: Guy Smallman/Getty Images Sun 3 Jan 2021 11.19 EST Last modified on Sun 3 Jan 2021 23.37 EST The UK government has demanded that executives who supplied combustible...